ClearSign Technologies (NASDAQ:CLIR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a report issued on Sunday morning. The brokerage issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $6.00 target price on shares of ClearSign Technologies in a report on Tuesday, May 28th.

ClearSign Technologies Stock Down 0.8 %

NASDAQ:CLIR opened at $0.89 on Friday. ClearSign Technologies has a twelve month low of $0.62 and a twelve month high of $1.72. The firm has a market capitalization of $44.69 million, a price-to-earnings ratio of -7.42 and a beta of 1.05. The stock’s 50 day moving average price is $0.81 and its two-hundred day moving average price is $0.93.

ClearSign Technologies (NASDAQ:CLIR) last issued its earnings results on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.02 million. ClearSign Technologies had a negative net margin of 186.63% and a negative return on equity of 85.65%. As a group, analysts anticipate that ClearSign Technologies will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. acquired 3,350,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $0.91 per share, for a total transaction of $3,048,500.00. Following the completion of the acquisition, the insider now directly owns 9,539,857 shares in the company, valued at $8,681,269.87. The purchase was disclosed in a filing with the SEC, which is available at this link. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC bought a new stake in ClearSign Technologies Co. (NASDAQ:CLIR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned 0.10% of ClearSign Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 24.03% of the stock is currently owned by institutional investors and hedge funds.

ClearSign Technologies Company Profile

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.